Owner of Sidney Applebee’s declares bankruptcy, restaurant to remain open

5/9/2018 8:53:31 AM

By Matt Olberding, Lincoln Journal Star

SIDNEY, Neb. - RMH Franchise Holdings, which owns the Sidney Applebee's as well as eight others in Nebraska, filed for Chapter 11 bankruptcy protection, according to the Lincoln Journal Star, Tuesday morning in Delaware.

A Chapter 11 bankruptcy filing gives a company a chance to reorganize its finances under a court's supervision so it can attempt to stay in business.

In its bankruptcy petition, the company, which has corporate offices in both Lincoln and Atlanta, listed both its assets and liabilities as being between $100 million and $500 million. The petition said the estimated number of creditors is between 5,000 and 10,000.

Robin Jenkins, a spokeswoman for RMH Franchise, told the Lincoln Journal Star that all locations will remain open and operating during the bankruptcy process.

"We are excited to continue serving our guests in all our neighborhoods," she said in an email.

RMH Franchise, which is the second-largest Applebee's franchisee, currently owns 163 locations in 15 states, which is down from 167 just a couple of months ago and 173 three years ago.